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Journalism of Courage
After publicly acknowledging to confirm to the Government’s rule on uplinking for foreign news and current affairs channel, Television Eighteen Ltd. has increased its stake from 49 per cent to 90 per cent with CNBC Asia Pacific holding 10 per cent in CNBC-Television Eighteen Ltd.
The move to consolidate its hold comes in the wake of the detailed scrutiny of Star News application whose fate will be decided by the Group of Ministers, which will meet shortly to take stock of the application.
CNBC-Television Eighteen CEO Harish Chawla denied that the move to increase the stake had anything to do with Star News. ‘‘We had announced in May that the Indian company’s stake will be greater than 74 per cent and the decision today has nothing to do with Star News,’’ Chawla said.
Though the company had announced its intent of restructuring itself, it was only today that CNBC-Television Eighteen spelt out the finer details. ‘‘It is a cash neutral deal in relation to the Mauritius subsidiary CNBC India,’’ Chawla said.
